Stora Enso announced in February plans to permanently close down one paper machine 8 (PM8) and related reorganisation at the Kvarnsveden Mill in Sweden that could affect a maximum of 140 people at the mill. PM8 was permanently shut down in June, and the negotiations between central parties have now been concluded.
The impact of the reorganisation and PM8 closure was mitigated through individual solutions, such as early retirement. Altogether the number of people affected will be 122.
Stora Enso is convinced that through the measures taken, it is possible to improve the competitiveness of the Kvarnsveden Mill going forward.
Production at Kvarnsveden Mill will continue on two lines, PM10 for improved newsprint paper and PM12 for SC papers.
Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil-based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 25 000 people in more than 35 countries, and our sales in 2016 were EUR 9.8 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com